Westamerica Bancorporation (WABC) investor relations material

Executive summary

• Net income for Q2 2026 was $27.4 million, flat sequentially but down 5.8% year-over-year.

• Diluted EPS was $1.17, up from $1.13 in Q1 2026 and up 4.5% year-over-year.

• Return on average common equity was 11.3% for Q2 2026.

• Dividend of $0.48 per share paid and 753,000 shares repurchased during the quarter.

Financial highlights

• Net interest income (FTE) was $52.7 million, unchanged sequentially but down 3.5% year-over-year.

• Noninterest income rose to $10.3 million, up 7.2% sequentially, driven by higher merchant processing and debit card fees, and unrealized equity gains.

• Noninterest expense was $26.0 million, up 2.0% year-over-year, mainly due to higher salaries and professional fees.

• Efficiency ratio (FTE) was 41.3%, up from 39.3% a year ago.

• Net interest margin (FTE) was 3.77%, down from 3.85% in Q2 2025.

Outlook and guidance

• Management emphasized continued focus on low-cost operations and stable credit quality.

• Forward-looking statements highlight risks from economic conditions, interest rates, competition, and regulatory changes.